S&P500 Non-Commercial Positions:
Large speculators increased their net positions in the S&P500 stock futures markets last week for a sixth consecutive week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.
The non-commercial futures contracts of S&P500 futures, traded by large speculators and hedge funds, totaled a net position of 9,943 contracts in the data reported through March 21st. This was a weekly gain of 1,593 contracts from the previous week which had a total of 8,350 net contracts.
Speculators have now raised their bullish net position to the highest level since December 13th when net positions totaled 15,031 contracts.
S&P500 Commercial Positions:
Free Reports:
Meanwhile, the commercial traders position, categorized by the CFTC as hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -16,363 contracts last week. This is a weekly change of -122 contracts from the total net of -16,241 contracts reported the previous week.
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the S&P500 index closed at approximately 2344.02 which was a fall of -21.43 from the previous close of 2365.45, according to market data.
*COT Report: The COT data, released weekly to the public each Friday, is updated through the previous Tuesday (data is 3 days old) and shows a quick view of how large speculators or non-commercials (for-profit traders) as well as the commercial traders (hedgers & traders for business purposes) were positioned in the futures markets. The CFTC categorizes trader positions according to commercial hedgers (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and nonreportable traders (usually small traders/speculators). Find CFTC criteria here: (http://www.cftc.gov/MarketReports/CommitmentsofTraders/ExplanatoryNotes/index.htm).
Article by CountingPips.com
